SPI Medical Imaging: Butterfly Network Spreads its Wings

Butterfly Network recently announced the commercial launch of its latest iQ3 handheld point-of-care ultrasound (POCUS) device to Europe. The device will now be available for purchase in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the UK.

Why we are covering this topic

• Butterfly Network has struggled in recent years, with financial instability and struggles to hit sales targets.
• This year, however, may represent a change in the vendor’s fortunes, and the European expansion for its latest device should bolster its revenues

Why it matters

• While the vendor appears to be moving in the right direction, its financial performance still leaves a lot to be desired, and its latest financial reports record substantial losses.
• It also faces stiff competition in the POCUS segment, with GE HealthCare recently launching new systems.